10th January 2019
BGF has announced the exit of its minority investment in Petrotechnics, a global leader of software solutions for hazardous industries, following its acquisition by US-based Sphera Solutions Inc.
BGF invested £6m in the Aberdeen-based company in 2013 to support the development of Proscient – the first software enterprise platform for operational excellence in hazardous industries.
The funding was also used for geographical expansion, with the company’s software now being used by more than 80,000 people from some of the biggest businesses in the oil and gas, rail and petrochemical sectors, across 22 countries. Since BGF’s investment, the company has invested over £15m in creating and bringing to market the broadest and most insightful operational excellence software package in the sector....